Laboratorios Farmaceuticos Rovi (ROVI) Q2 2022 earnings summary

Executive summary

• Operating revenue rose 31% year-over-year to €380.4 million, driven by 76% growth in contract manufacturing and 9% growth in specialty pharmaceuticals.

• Net profit increased 58% to €80.6 million, with EBITDA up 56% to €115.8 million and EBIT up 65% to €104.5 million.

• Gross margin improved to 59.7% from 53.2% in the prior year period.

Financial highlights

• Revenue: €380.4 million (up 31% year-over-year).

• EBITDA: €115.8 million (up 56% year-over-year), margin 30.4%.

• Net profit: €80.6 million (up 58% year-over-year).

• Earnings per share: €1.50 (up from €0.92).

• Gross cash position: €160.5 million; net cash: €87.3 million.

Outlook and guidance

• Operating revenue for 2022 expected to increase between 15% and 20%.

• Growth drivers include the launch of Okedi® in Europe, LMWH franchise, license agreements, Moderna partnership, and new toll manufacturing contracts.